NZDUSD 12 Dec 2023 on the daily timeframe, it can be seen that the pair is still ranging between S1 and R1 also occupying a price position of 0.61465. Being well above the kumo cloud on the ichimoku indicator, the pair has not been able to continue the bullish trend that it has tried to initiate several times. When referring to the stochastic indicator, the chart shows that the moving average line has touched level 20, which is oversold. If this pair is able to continue bullish then go-long can be an option for traders. However, if the pair fails and goes bearish then go-short is an option. Keep an eye on the market movements and consider all possibilities before making a trading decision.
